@Ipool05, have you tried going to another lender. I havent had any issues with CBA as of yet but have herd that sometimes a bank wont reval even if comparables are good like in your case.
@ZenMaster, Just did a very cheap and basic reno. new kitchen, light fittings, paint, new toilet, vinyl to kitchen and dining area and new curtains with other bits and pieces. I bought the property very cheap so thats were the win was. Complete reno cost was $12k. Search the topic Mildura and you will see my previous posts on Mildura on here and property investing forum. Most locals recommend buying on the west side of deakin highway due to less housing commision homes but yeilds are better on the east side. I myself have 2 on the west side but would have no issues purchasing anywere in Mildura as I think its a great town with a lot of things going for it. If you are interested in more info give Ben Ridley a call from Barry Plant and have a chat, he is very profesional and will answer all of your questions.
Regards,
Engelo